AUD/USD – Bullish Setup Brewing
AUD/USD has been respecting this rising channel beautifully, with clean higher highs and higher lows.
Back in April, we saw a classic bear trap, price wicked below support, lured in shorts, and then reversed sharply. That fakeout sparked a strong rally and confirmed demand.
Currently, price is consolidating near the Key Resistance Zone and bouncing off the lower trendline again a sign of strength.
If this pattern continues, we could soon see a breakout above the upper trendline, potentially sending AUD/USD flying toward 0.68+.
Outlook:
As long as the structure holds, dips are for buying. Bulls remain in control.
DYOR, NFA
Thanks for the reading
AUD/USD has been respecting this rising channel beautifully, with clean higher highs and higher lows.
Back in April, we saw a classic bear trap, price wicked below support, lured in shorts, and then reversed sharply. That fakeout sparked a strong rally and confirmed demand.
Currently, price is consolidating near the Key Resistance Zone and bouncing off the lower trendline again a sign of strength.
If this pattern continues, we could soon see a breakout above the upper trendline, potentially sending AUD/USD flying toward 0.68+.
Outlook:
As long as the structure holds, dips are for buying. Bulls remain in control.
DYOR, NFA
Thanks for the reading
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.